So when’s the housing bubble bursting?

[Helico-pterFunk]

Flipping tax proposal 'really scary,' says B.C. MLA who bought and sold 3 homes in 4 years

A B.C. MLA who bought and sold properties three times over the last four years is speaking out against a proposed flipping tax designed to discourage real estate speculation in the province

bc.ctvnews.ca

 

[DC_Dude]

 

[DC_Dude]

 

[DC_Dude]

 

[Helico-pterFunk]

'A totally different market': Home sales, prices continue to decline in Metro Vancouver

The number of home sales in the Vancouver area dropped further in September, as higher interest rates continued to cool the region's hot housing market.

bc.ctvnews.ca

 

[Da Backshot Champ]

Just as expected prices in NYC aint falling like that. Even if prices fall 10%, 800K house would be no less than 720K. You other metros are lucky. Florida, Arizona, and NC are in black as fuck in that map.

 

[slewdem100]

Second time this has happened and I didn't pull the trigger...sell the condo, rent for a few months and wait for everything to come down in price...guess I'm just risk averse...got a sweet refi out the deal and I wont be underwater even with a market correction but getting 6 figures one time would have been nice long term

Scared money etc etc

 

[blackbull1970]

Rates definitely gonna be hitting 7% here soon.

 

[blackbull1970]

It’s the perfect starter home. But it’s only for rent.

The construction of tens of thousands of rental homes could help rebalance the broader housing market. But critics warn it could widen inequalities, replacing options for would-be first-time homeowners.

https://www.washingtonpost.com/business/2022/10/02/housing-build-to-rent-austin/

 

[Dr. Truth]

Real estate is local. Prices are NOT falling like that everywhere . The Bay Area is still out of control

 

[Z MONSTER]

I talked to a brother who said he was a lender for a bank and he said the markets are going back to normal. I'm not sure about his credibility because he was wearing And One sneakers.

 

[praetor]

I talked to a brother who said he was a lender for a bank and he said the markets are going back to normal. I'm not sure about his credibility because he was wearing And One sneakers.

What state is this in?

 

[DC_Dude]

I talked to a brother who said he was a lender for a bank and he said the markets are going back to normal. I'm not sure about his credibility because he was wearing And One sneakers.

For how long?

 

[Dr. Truth]

I talked to a brother who said he was a lender for a bank and he said the markets are going back to normal. I'm not sure about his credibility because he was wearing And One sneakers.

Going back to normal with rates at 7%?

 

[DC_Dude]

 

[praetor]

 

[praetor]

 

[Llano]

For some of you needing a home check to see if the new home builders in your area have any incentives. We looked at a D.R Horton new build this past weekend and they offered $7k off closing costs along with a 4.9 interest rate if we financed with their lender.

With interests rate so high & the market slowing down, they're going to have some good incentives.

 

[Z MONSTER]

What state is this in?

For how long?

Going back to normal with rates at 7%?

North Carolina. Disregard what I said I just looked dude up and he might be a scammer.

 

[thismybgolname]

 

[LordSinister]

How about stop having these stupid wasteful bullshit large weddings and use that money to buy a house instead. I’ll never understand the stupidity of a large expensive wedding

This. We eloped, and had dinner at a Greek restaurant after. My wedding band cost under 20 bucks. Me and the wife each dropped 35k on our 3rd house, refinanced and paid off our condo. I've been begging people for years to buy a home, but a lot of Hoteps told y'all to rent.

 

[DC_Dude]

This. We eloped, and had dinner at a Greek restaurant after. My wedding band cost under 20 bucks. Me and the wife each dropped 35k on our 3rd house, refinanced and paid off our condo. I've been begging people for years to buy a home, but a lot of Hoteps told y'all to rent.

 

[moblack]

People looked at me crazy when I tell women. Instead of paying for that masters you could of used that money for a down payment. Your house equity would be more than the little bump in pay you got at work. Especially Black women who in education who all ran to get Masters. They found out it was a trap. Went from having summers off till now working summers for that office job that evens out the pay increase. I’m not gone even start on BW who feel they need to take multiple trips in a year.

 

[blackbull1970]

NYC Fixing Up And Selling “Zombie Homes”


From abandoned to affordable, thousands of homes creating eyesores in city neighborhoods could soon be a beacon of hope in a tight real estate market.

CBS2's Lisa Rozner has more on "zombie homes" and has an exclusive look from Jamaica, Queens at a city program that's being expanded to turn them around.

 

[praetor]

 

[praetor]

 

[CurtDawg]

 

[Dr. Truth]

Home prices may fall but rates are terrible . House prices are not falling much here at all but they report it as falling even if it goes down by 20k which ain’t shit when the average home price here is a million dollars

Oakland, California Housing Market Report November 2024 - RocketHomes

There are 1,482 homes for sale in Oakland, Alameda County with a median price of $850,000, which is a decrease of 0% since last year. See more real estate market trends for Oakland.

www.rockethomes.com

 

[CurtDawg]

Home prices may fall but rates are terrible . House prices are not falling much here at all but they report it as falling even if it goes down by 20k which ain’t shit when the average home price here is a million dollars

Oakland, California Housing Market Report November 2024 - RocketHomes

There are 1,482 homes for sale in Oakland, Alameda County with a median price of $850,000, which is a decrease of 0% since last year. See more real estate market trends for Oakland.

www.rockethomes.com

Yeah I know prices in Cali are crazy right now
I guess people will just have to come to the table with more cash
To offset the high interest rates

Interest rates will go up a little more, later this year
Then will probably plateau at around 8%, for all of next year
For most states, the housing market will probably drop about 20-25%

But the bad thing is, once the housing market bottoms out
Investment companies are going to start scooping up those cheap deals
Companies like BlackRock that have billions in cash just sitting & waiting
They're waiting to snatch them shits up, to turn them into rental homes

 

[CurtDawg]

 

[Dr. Truth]

Yeah I know prices in Cali are crazy right now
I guess people will just have to come to the table with more cash
To offset the high interest rates

Interest rates will go up a little more, later this year
Then will probably plateau at around 8%, for all of next year
For most states, the housing market will probably drop about 20-25%

But the bad thing is, once the housing market bottoms out
Investment companies are going to start scooping up those cheap deals
Companies like BlackRock that have billions in cash just sitting & waiting
They're waiting to snatch them shits up, to turn them into rental homes

That’s the problem, not many people have money for a down payment even if 10% and according to that chart I posted 62% of houses go over asking . So you need at least $100k of cash which is crazy

 

[Helico-pterFunk]

Revised: Odds of falling home prices in your local housing market, as told by one interactive map

CoreLogic: These 125 housing markets have a greater than 50% chance of seeing falling home prices over the next 12 months.

fortune.com

Get ready for the next housing crisis: negative equity

As interest rates rise and mortgages become unaffordable, the whole system will start to crumble.

newstatesman.com

A married couple with a 47-unit real estate portfolio worth $19 million share the top 4 books that got them started on the path to building wealth

Here are four books to learn more about real estate investing and building wealth, from a couple that owns a 47-unit portfolio worth $19 million.

businessinsider.com

http://theatlantic.com/ideas/archive/2022/10/california-accessory-dwelling-units-legalization-yimby/671648

Everyone is trying to buy rental real estate right now, but after 15 years as a landlord I'm selling my properties for 4 reasons

Landlord Holly Johnson made $150,000 on the sale of one of her rental properties. She expects to make a profit on the second, too.

businessinsider.com

 

[thismybgolname]

 

[kdogg3270]

more of this divisive men vs women bs.
for the record I purchased my house on my own

 

[DC_Dude]

more of this divisive men vs women bs.
for the record I purchased my house on my own

Yeah same here, but the conversation was mostly focused on buying a house together vs buying an expensive ring.